KLMK progress report. I've highlighted a significant new development. From yesterday's 10q:
"Progress During the three Months Ending September 30, 2013
During the three months ending September 30, 2013, Klever focused on further enhancements of its KleverShop® and KleverDash® products to assure that our products will achieve wide public acceptance. In August 2013, our unique, and now patented, Hook and Tender redemption process was successfully tested and demonstrated without any flaws in our proprietary retail store. This process allows us to redeem the selected coupons at checkout through a single SKU without going through any loyalty card or other unique identifier process. This gives us access to the over 30,000 locally owned retail grocery stores that do not have loyalty programs. Our simplified process requires no special cashier training and is a true breakthrough in coupon redemption processing without having to become deeply integrated into the store’s point of sales (“POS”) system. With this technology, we are able to print verification reports of all Klever coupon redemptions and print the customer savings amount on the customer receipt.
During the third quarter, we conducted a focus group test and survey of our complete KleverShop® and KleverDash® applications, after which Paul Begum, CEO Klever Marketing, Inc., remarked, “The results and enthusiasm of both Focus Group shoppers and retailer cashiers, who tested the state-of-the-art KleverShop® Android and iPhone Apps were extraordinary. The KleverShop® app demonstrated a high level of shopper acceptance, easy-to-use paperless ‘Green’ electronic coupon scanning and clipping features and measureable retailer efficiency gains at checkout lanes, entirely redefining the checkout and shopping experiences of how shoppers shop the store today. And KleverDash® proved itself as a crucial link to real-time promotional management and greater financial returns to retailers and CPGs. I was particularly pleased at how KleverDash® delivers our patented Chime Time Awards® in-store promotions program.”
During the quarter, the Company also contracted with two highly experienced retailer-CPG industry consultants, both of whom are focusing on setting up future operational and deployment plans for the Company's proprietary KleverShop®, KleverDash®, KleverBank®and KleverKloud® solutions.
The Company’s management interviewed several investor relations firms this quarter with the goal of widening investor awareness of the unique technology gains, consumer acceptance results and additional patent protections that have been achieved by the Company. We anticipate selecting a firm to work with during the fourth quarter of this year.
We also continue to protect the Company's assets through our aggressive patent program and have begun to settle with certain infringing companies.
Anticipated Business Development in the Next 12 Months
The Company’s objectives for the next 12 months remain the same. We will continue to enhance and simplify the KleverShop® and KleverDash® applications to assure maximum user acceptance. We are linking the KleverBank® process to make it an essential bridge to simplify manufacturer’s coupon offerings. This process is planned for completion in the fourth quarter. We are already planning for expansion into a second retailer’s store and expect that be completed early next year. From there we plan to expand into a regional retailer that has 12-15 stores, followed by a larger retailer of at least 150 stores. Ultimately, we plan to work with major retailers and supplier chains.
Plans have also been made for the operational needs of our growing product base, which will require expanded server hardware and support network plus additional resources to serve our customers. Accomplishing this growth will require an additional capital infusion or partnership with another Company, and efforts in this direction are gaining momentum. While progress is being made, and the Company is optimistic about its future, we must caution the reader that Klever is still a development stage company, and no revenue contracts have yet been signed. No assurance or warranty can be given that the Company will be successful in implementing the efforts described in this report or in raising capital.
No warranty or assurance of the future plans or business success can be given."
My posts are my opinion. Do not be influenced by anything you read on any message board website unless you can confirm it.
